US Dollar Index is pulling back at the moment retracing its drop from 97.75 through 96.40 yesterday. It remains possible for the index to rally towards 97.20/30 handle, which is also the fibonacci 0.618 retracement of the above drop, before reversing lower again. The next wave could potentially drag the US Dollar Index lower towards 94.65 and further. Alternately, if prices manage to break above 97.75 interim resistance, it would confirm a change in the short-medium term structure. At the moment, US Dollar Index remains a sell on rallies candidate until prices stay below 97.75.
Strategy:
Short against 97.75, targeting below 94.65
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 97.75, targeting below 94.65
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.